Among smallcaps - Natco Pharma, Neuland Laboratories, Inox India, Welspun Living and GE Shipping shares have witnessed the formation of 'Double Bottom' pattern on the technical charts.
Natco Pharma, in a regulatory filing, has informed the exchanges that the credit rating agency ICRA Limited has reaffirmed and assigned credit ratings for Natco Pharma's various debt instruments.
Natco Pharma shares fell 2 per cent as it received seven observations in the Form-483 from the US Food and Drug Administration
Among the Nifty 500 constituents, Tejas Networks (down 56 per cent), Praj Industries (down 54 per cent), and Vedant Fashions (down 52 per cent) were among the worst hit
The buying on the counter came after the Delhi High Court dismissed an appeal by F. Hoffmann-La Roche AG, removing the last legal hurdle for Natco Pharma to launch a generic version of Risdiplam
The court upheld a previous order denying Roche's injunction plea, citing public interest and affordability in treatment for spinal muscular atrophy patients
Natco Pharma stock was trading at ₹884.5, up 3.2 per cent compared to the previous session's close of ₹857.25 on the NSE
Among stocks, Natco Pharma plunged 37.85%, Ipca Labs 22.43%, Aurobindo Pharma 17.99%, and Sun Pharma 14.30%. Other laggards include Lupin (13.25%), and Dr Reddy's (5.17%).
Nifty Pharma index declined 1.5 per cent in trade after US President Donald Trump warned to impose a 25 per cent tariff on Indian goods starting August 1
The proposed Rs 2,000 crore deal will give Natco Pharma a strategic foothold in South Africa, with transaction completion expected within four months subject to approvals
Stocks to buy: Analyst pick Sharda Cropchem, Monarch Networth Capital and one more share to buy; Check full details